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How is Real Estate Investment Treated in Bankruptcy?

When someone is filing for bankruptcy, one of the concerns is their property. The property that you bought for investment is treated differently than the house you live in. This infographic informs you how your real estate investment will be treated in Chapter 7 and Chapter 13 bankruptcy.

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How is Real Estate Investment Treated in Bankruptcy?

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  1. NADER & BERNEMAN EXPLAINS HOW IS REAL ESTATE INVESTMENT TREATED WHEN YOU FILE FOR BANKRUPTCY Realestateinvestmentisbasicallyanypropertythatyoudon't personallyliveoruse. Butbadtimescanknockatanyone'sdoorat anytime. Stayinginformedbeforehandisalwaysgood. Let'sseehow yourinvestmentpropertywillbetreateddependingonthetypeof bankruptcyyouarefiling. CHAPTER 7 THE STRAIGHT FORWARD BANKRUPTCY UnderChapter7bankruptcy, thebankruptcytrusteemostly cancelsyourdebtsifnotall. Thismeansallofyourassetsand propertywillbeliquidatedtorepaythecreditors. Thisiswhyitis alsoreferredtoas “liquidation” bankruptcyandnotevena homesteadexemptioncanprotectanyoftheinvestmentreal estates. Youaresubjecttolooseyourinvestmentorrental propertyunderChapter7bankruptcyproceedings. CHAPTER 13 THE REORGANIZATION BANKRUPTCY WithChapter13bankruptcy, youareabletokeepyourproperty whichholdstrueforpersonalaswellasinvestmentproperty. It letsyoureorganizeandre-structureyourdebttoeventuallypayit alloff. Youneedtomakesomearrangementstorepayamajor portionofyourdebtoveraperiodagreeduponduringthe proceeding. Theonlyconditionisthattheincomefromyourreal estateinvestmentmayincreasethemonthlypaymentwhichyou arerequiredtopaytothebankruptcytrustee. VISIT WWW.NADERLAWFIRM.COM TO KNOW MORE DETAILS

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